Zayo Group has acquired New York-based AboveNet, a provider of high bandwidth connectivity solutions for businesses and carriers for $2.2 billion. Wiggin and Dana advised on the transaction.
Wiggin and Dana LLP advised AboveNet, Inc. in connection with its $2.2 billion acquisition by Zayo Group, LLC. The transaction closed on July 2, 2012.
On March 19, AboveNet and Zayo announced that their Boards of Directors approved a definitive merger agreement under which Zayo would acquire AboveNet for approximately $2.2 billion. Under the terms of the agreement, AboveNet’s stockholders received $84.00 per share in cash for each share held.
White Plains, New York-based AboveNet (NYSE: ABVT) is a leading provider of high bandwidth connectivity solutions for businesses and carriers. Its private optical network delivers key network and IP services in and among top U.S. and European markets. AboveNet’s network is widely used in demanding markets such as financial and legal services, media, health care, retail and government. The combination with Zayo is expected to create a leading pure-play bandwidth infrastructure provider.
The Wiggin and Dana Mergers and Acquisitions team was led by New York-based corporate partner Scott Kaufman and included counsel William Kilgallen and associates Toby Bannon, Evan Kipperman, and Ann Matthews. Additional lawyers included corporate partners Mark Kaduboski and Paul Hughes, real estate partner Andrew Pal, tax partners Peter Gruen and Bruce Hood, antitrust partner Erika Amarante, executive compensation partner Sherry Dominick and counsel Rachel Arnedt.
Wiggin and Dana is a full service firm with more than 135 attorneys serving clients domestically and abroad from offices in Connecticut, New York and Philadelphia.